Rather, they result from a combination of supply and demand factors that gradually tightened markets over the course of several months and even years. The current high coal and gas prices are not the result of a single “shock event” on the demand or supply side. Consumers and businesses are feeling the squeeze Despite government efforts to address the shortages, several Indian states have suffered serious power shortages in recent days, affecting both residential and industrial customers. Power plants that rely on imported coal have slowed or even halted operations, and some plants that rely on domestic coal are starting to run out. India’s domestic coal mining, which accounts for 80% of the country’s supply, has been unable to keep pace with demand, and higher international prices are making imports uneconomical. In India, the economic recovery and related increase in energy demand are causing a coal shortage. In the northeast provinces of Heilongjiang, Jilin and Liaonin, even households are suffering power cuts, which is likely to have policy implications. The effect on global supply chains is not yet clear. Large energy-intensive industries – including steel, aluminium and cement – have been directed to cut production. As a result, coal power producers have insufficient coal on hand and rolling blackouts have occurred across two-thirds of Chinese provinces. In China, rigid electricity tariffs have not followed the large increase in coal prices. And several companies have temporarily curtailed ammonia and fertilizer production, citing deteriorating margins due to the sharp increase in gas prices. Rising power prices are already impacting operations of electricity-intensive industries. In Europe, many businesses are likely to face the double impact of rising energy costs and a potential decline of consumer spending due to households’ increased energy-related expenses. Many governments have taken measures to alleviate electricity bills, especially for vulnerable consumers. The price increases are expected to result in sharp upward pressure on household energy bills and also present broader risks to economic activity, especially for sectors that are directly exposed to the price rises. Gas and coal prices have jumped to all-time highs, taking electricity prices with them The increased use of coal is in turn is driving up CO2 emissions from electricity generation globally. The strong increases in natural gas prices have prompted substantial switching to the use of coal rather than natural gas to generate electricity in key markets, including the United States, Europe and Asia. International coal prices are around five times their level a year ago, and coal power plants in China and India, the world’s two largest coal consumers, have very low stocks ahead of the winter season. US month-ahead natural gas prices have more than tripled since October 2020 to reach their highest level since 2008. Natural gas prices have seen the biggest increase, with European and Asian benchmark prices hitting an all-time record last week – around ten times their level a year ago. But since then, they have rebounded strongly, mainly as a result of an exceptionally rapid global economic recovery (this year is on track for the fastest post-recession growth in 80 years), a cold and long winter in the Northern Hemisphere, and a weaker-than-expected increase in supply. Check ‘em all out below before heading out for your coffee run, and enjoy! (Just make sure you keep these delicious spiked beverages outside the office.) 1.The historic plunge in global energy consumption in the early months of the Covid-19 crisis last year drove the prices of many fuels to their lowest levels in decades. There are also suggestions for those who prefer tea or sweeter, chocolatey drinks like Frappuccinos. Still confused? When in doubt, you pretty much can’t go wrong with tried-and-true liqueurs like Baileys, Kahlua, or a dash of whiskey. For example, go for a nutty liquor like amaretto to pair with a hazelnut-flavored drink, or a cinnamon-infused alcohol to go with your cinnamon latte. The key is to pick a liquor with the same undertones as your preferred drink. While plain coffees are relatively easy to match, flavored ones - like caramel or vanilla lattes - can be a little trickier. Get ready for a great cup of coffee - with an extra punch. Luckily for you, we've found the best pairings for some of the most popular drinks Starbucks has to offer. Depending on what your preferred beverage is, certain kinds of liquor make for a better match than others. So what do you do when you’re looking to spike your favorite Starbucks drink? You turn to our trusty guide, of course. Starbucks coffee is pretty good on its own, but on certain occasions, you’re just looking for a more adult twist - obviously, I’m talking about booze.
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